IFZA visa package and ownership change
The licence package and the shareholder structure no longer matched the business. Both changed, and the Corporate Tax record came next.
This IFZA visa package change took the licence from two visas to one, and the company's shareholder structure was then amended. New company documents were issued once the structure change was complete. The next step was updating the Corporate Tax details with the Federal Tax Authority (FTA), which needs UAE PASS authorisation.
The situation
The owner ran an existing IFZA business on a licence package with two visas. Neither the package nor the ownership matched the business any more. The business wanted fewer unused visa entitlements, and the owner wanted a simpler shareholder structure.
The ownership change also had a tax side, because it affected the company's Corporate Tax registration records with the FTA.
What we handled
The free zone changes came first and the tax record followed, each with its own authority.
Visa package
We handled the downgrade from two visas to one and confirmed it to the owner.
IFZA
Shareholder structure
We confirmed the company structure change complete and provided the new company documents.
IFZA
Corporate Tax record
The next step was updating the Corporate Tax details with the FTA, through UAE PASS authorisation.
The FTA
Renewal
The following renewal asked for a financial statement acknowledgement and ultimate beneficial owner (UBO) paperwork.
IFZA
The documented outcome
Both changes were completed. The owner received the new company documents, and the FTA update followed as its own step, with UAE PASS authorisation for the Corporate Tax record.
- Licence package reduced from two visas to one
- Shareholder structure amended
- New company documents issued
Before you resize a licence
Three points from this restructure that apply to any IFZA owner who is reviewing a licence package or a change of shareholders before the next renewal.
- Review visa capacity at renewal.Unused visa entitlements can be reduced, as they were here, before another year starts on the same package.
- Ownership changes reach the FTA.The Corporate Tax record update is its own step, with UAE PASS authorisation.
- Renewal brings its own papers.A financial statement acknowledgement and UBO paperwork came up at the next renewal.
IFZA visa package change questions
A question about your own file? Send it on WhatsApp and an advisor answers it directly.
Ask on WhatsAppCan an IFZA licence package be reduced to fewer visas?
Does a shareholder change update the Corporate Tax record automatically?
Structure no longer fits?
In thirty minutes we look at your licence package, your ownership and the records that follow them, such as the FTA registration.
On the call
- Your licence package against the visas you use
- The ownership change and the records it touches
- A written scope, agreed before any work starts
